MANILA, Philippines - Leading wireless service company Smart Communications is introducing the country’s first mobile-based Internet security lock feature to allow its subscribers perform safe and secure online purchases on their mobile phones.
Under the Smart Money platform, the expanded security feature enables an account holder to authorize online purchases made on his account via his Smart mobile phone. All online purchases through Smart Money will require the cardholder to input a Personal Identification Number (PIN) on his mobile phone to signify that an online purchase transaction has been authorized.
This gives cardholders even more control over their Smart Money accounts, and protection from fraudulent online transactions. In addition, Smart Money account holders are notified by text message whenever transactions are made on their account.
“Our alliance with MasterCard, our partnerships with the country’s leading banks, and now, this pioneering safety feature against fraud, will give Internet shoppers additional mechanisms to best manage their cash and account security online,” Smart wireless consumer division head Danilo Mojica said.
Recent statistics show that the e-commerce industry in the Philippines has not completely taken off. Aside from the fact that Filipinos still prefer the physical experiences associated with shopping, the comfort level with online transactions have yet to improve as well.
According to the first-ever in-depth study on the Internet habits of Filipinos conducted by Yahoo! and Nielsen in March 2009, only three percent of the total 20 million Internet users in the Philippines engage in online transactions.
Smart financial services head Jojo Malolos explained that this online security solution will help ease any apprehensions Filipinos may have about Internet purchases. “Through this new and accessible payment channel, we are confident we will help modify existing market behavior, to drive e-commerce activities in the Philippines,” he added.
Smart’s newest e-commerce innovation will allow Smart Money users to have access to over two million MasterCard retail partners in the Internet. To date, there are 25 million MasterCard partners all over the world.
Smart financial services domestic alliance department head Anna Marie Cruz pointed out that this initiative is part of their vision of building ecosystems and communities powered by Smart Money.
“Now, over six million Smart Money users will enjoy the benefits of an expanded, yet safer and smarter online shopping experience,” Cruz emphasized.
Smart Money is the first reloadable payment card linked to a mobile phone with a Smart SIM. It combines the strength of Smart’s mobile commerce services and MasterCard’s wide merchant acceptance network, enabling consumers to enjoy an extensive array of goods and services.
Smart Money cardholders can withdraw from over 7,000 bank ATMs all over the country, perform peer-to-peer mobile money transfers and payments, pay utility bills, purchase prepaid load and finally, purchase from millions of MasterCard locations around the world, including online establishments.
The leader in wireless innovations, Smart has been at the forefront in promoting mobile commerce services in the Philippines since 2000. Smart Money, the world’s first electronic wallet card linked to a mobile phone, won the 2001 3GSM Award for “Most Innovative GSM Wireless Service for Customers.” It was also cited as the “Best Product Innovation” award at the MasterCard Marketing Awards in Australia.